Why an Adaptive Social Business Model is Needed ?

The trouble with many social business models today is that they don't allow room for adaptation and manipulation; they put organizations into a box and expect them to move in a linear way to get to their goal, not being able to move forward until each preceding step is completed.

Problem is, every organization has different needs in different areas. The point of developing something like this is to address and show the common elements among organizations that are investing in social business while allowing the flexibility of every organization to focus on the necessary areas.

How This Can Help Your Organization

Some organizations might have a rock solid organizational culture, a solid process, and a great technology stack but might be weak in the goals and objectives and governance areas. This framework is designed to let organizations look at and understand the key components that make up each sphere.

Your organization might be great at one of the five areas, whereas another organization might be solid at three of the five.

Organizations can maneuver through this framework to improve on areas where they are weak or perhaps not as strong as they would like to be. It's adaptive because it doesn't force organizations down a single path – yet addresses the key areas for social business.

Every organization can determine which areas they need to work on and which ones are solid.

While the framework uses the term "social" the reality is that many of the concepts are built around traditional approaches to business but in this case slightly adapted specifically to organizations interested in emergent social software. As Gil Yehuda has said, "it's very healthy to view a social initiative as a business initiative."
source: http://goo.gl/sVGnx

Benchmark – Bounce Rate and Conversion Rate Survey !!

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Bounce Rate:- Bounce rate (sometimes confused with exit rate) is a term used in web site traffic analysis. It essentially represents the percentage of initial visitors to a site who “bounce” away to a different site, rather than continue on to other pages within the same site.

Conversion Rate:- The percentage of visitors to a web site who complete a process designed by the web marketer. For example, if out of 100 visitors who respond to an ad by clicking on it and coming to a landing page, two go on to complete and submit a form, the conversion rate for that program is 2%.

Web Analytics – Refining and Redefining The Current Techniques !!

In the coming year we shall see tremendous refinements in the current web analytics tools to meet the new and very specific analytics needs of growing organizations. Here is our list of the top trends that we are likely to observe in 2011:

1. Tackling the challenge of analyzing multiple web access points:

The ways through which people can now access web has grown significantly and so analysts needs to stand up and face the challenge of understanding the behavior of the users of these multiple platforms to drive the whole advantage. In 2011 connected devices are set to make more use of your cars, work stations, TV, devices with larger screens and so on for keeping you fully connected. With multitude of handheld devices like smart phones and iPad that offer enhanced viewing and browsing experience – the number of mobile web users is increasing exponentially. Mobile analytics here would emerge as a distinct component of reporting user information for clients.

2. In-app analytics will come up significantly in 2011:

Today’s mobiles are flooded with options to run thousands of applications, which are slowly becoming significant for communication, interaction, navigation, search, entertainment, information, gaming, etc., for the users. The list is growing at an alarming pace and is capable of keeping the users addicted to their gadgets. iPhone applications alone run over 350,000, while Android has over 50,000 apps. The reason for this growing numbers is the usability and utility of these applications in smart phones. Web analysts will have to burn the midnight oil to extract valuable data from these applications’ usage.

3. Proactive companies will focus on analyzing the voice of the customer:

With millions of conversations happening online, companies have little control over what is being talked about their brands, but by being proactive in listening and following their brand name on all online channels, companies can influence and give a positive direction to those conversations. Social media analytics would be extremely useful. Another challenge here is to cut down huge amounts of unnecessary data, which may become a specialized task for analysts. Twitter is coming up with its own analytic tool which could give out some real valuable data, good for analysts to track and drive marketing objectives.

4. Better framework for social media analytics would be developed:

Currently, there are thousands of free and paid tools in the market. Each addressing a very specific analytics need and none of them are totally accurate. There’s a need for some level of tool consolidation and a social media analytics solution that answers critical questions holistically when it comes to tracking a brand online. Convergence of best web analytic practices may shape up new and standardized frameworks. Recently concluded global events and conferences like Blogwell, FutureGov Summit, among others, focused on the hot issue of developing a strategic social media framework for better and effective analysis.

5. Social media campaign analytics is coming into the picture:

With major companies targeting social media for online marketing; campaign analytics on social media is becoming a necessity. The metrics for measurement is totally different from the standard campaign analytics. Tracking Facebook fan pages, twitter hash tags, various brand specific applications and promotional campaigns on social media is becoming the need of the hour. So with increased use of online marketing, tracking social media campaigns will now grow at par with regular web analysis.

6. Privacy concerns might change the web analytics landscape totally:

With increased concern over privacy issues, tracking data that is private in nature might get banned altogether, and analysts might end up looking for new jobs. In 2011, we will see what Federal Trade Commission’s Do-Not-Track initiatives include and how it will impact web analytics. It may be something similar to the Do-Not-Call registry for phone users.

7. The need for web analysis will shoot up, so will the jobs

With online marketing, experiencing a near primary-marketing platform status, businesses are rapidly joining the web analysis bandwagon. Major web analysis vendors have seen a steep rise in the application of their solutions, which is indicative of this trend. And with more analysis needed we will surely see a surge in demand for quality web analysts too. As per Econsultancy report, companies are investing more in people as well as technology in order to get ‘actionable’ information from their web data. Forrester Research reported that web analytics spending will more than double to $1 billion by 2014. This implies a pressing need for analysis, and of course, more jobs for analysts.

Source: Web Analytics – Refining and Redefining The Current Techniques